Regular readers of this space, you are no doubt aware of the high stakes involved in the overall legalization of gaming in California. After a brutal legislative session that saw copious amounts of money spent on political ads for and against overall legalization across the state, the Golden State is once again at a standstill regarding sports betting in the state. In fact, a recent report from Los Cerritos News highlights the amount of income being made from sports betting in other states and also brings up to speed on the current state of gaming affairs in the Golden State. Indeed this look-in provides some context on what kind of gaming revenue is being seen across the country and also the hold-ups being seen in California as of right now.
In this article, SBS will be going over what to look for from the latest gaming news in the Golden State and also more thoughts about California betting.
As many of you have perhaps surmised by now, tribal powers in the state are gridlocked with national gaming companies on the future of gambling in California. Per the report, the state’s Tribal casinos currently have a “monopoly on casinos in the state” and are estimated to bring in over $8 billion a year. Those numbers rival the revenue generated from Vegas casinos, giving the Tribes plenty of reason to stand their ground against a new gaming movement in the Golden State. The report also notes that while they could offer their own sports betting under a new law, the fear is that “the ability to bet online would drastically lower the number of people visiting their casinos.”
As it stands right now, tribal opposition to legal sports betting in California has already stopped efforts to bring it to a vote in the last three opportunities. Of course, as the article notes, there are already signs that sports betting may get enough support again for its next outing and subsequent ones as well. On a final note, the report from Los Cerritos believes that most residents would vote “yes” on sports gambling legalization but it will again come down to negotiating a deal with the state’s Tribes. This also factors in overcoming the advertising campaigns against sports wagering as well.
According to the Los Cerritos article from early last month, the states with the top five amounts of tax revenue from sports betting are New York, Pennsylvania, New Jersey, Illinois, and Tennessee. Nevada, which is in many ways synonymously known for gambling, was sixth with the rest of the country trailing behind. Last year was a huge one for the sports betting industry in the U.S. per the American Gaming Association, with states combining to bring in $1.5 billion in tax revenue. This was a large jump from 2021, thanks mainly to New York and other states allowing for sports betting. In fact, New York led all states in tax revenue at $691 million.
As the article notes, while this is of course an impressive mark, you can expect it to be topped once again in 2023. As of mid-March, states have reported $2.6 billion in tax revenue from sports betting. This is a large jump from the prior year, and it is already surpassing projections set by the states.
After you are all squared away getting your fill on the latest gaming news from California, SBS has you covered with a ton of other awesome betting-related resources. If you are in need of a spot with consistent Golden State facts, then our California sports betting guide is a great place to always check in with the latest information from the state. Moreover, regarding deposits and withdrawals, the SBS payment methods breakdown is a great page covering all kinds of payment options. Here you can find which options suit you the best from crypto to traditional banking routes. Finally, for those that are perhaps considering some more high-stakes wagering options, our VIP sports betting sites rundown is full of great info and if VIP betting is the right fit for you.
About the Author
As a devout aficionado of sports, Chris Boline has carved a career within the athletic realm. A skilled scribe, he boasts a decade-long portfolio that encompasses coverage of the NBA G League, the Los Angeles Chargers, football and basketball across the country. Beyond his professional pursuits, Chris is deeply invested in his community and dedicates his leisure hours to serving on boards, collaborating with community organizations, and cherishing the company of loved ones. CURRENTLY Business Development and freelance sports writing RESIDES IN Reno, NV EDUCATION University of Nevada BS and MBA EXPERTISE -Sports writing proficiency in: NFL, NBA, UFC, boxing, golf, and some motor sports -Topical news -Promotional and marketing ideas/updates -Business development Summary Chris Boline serves in a business development sales capacity as his day job. He has previously held sales/marketing positions with The Applied Companies (TAC), KTVN 2 News and the NBA G League’s Reno Bighorns, affiliate of the Sacramento Kings. He is a Reno native and is a member of various community boards including the Nevada Sagebrush Alumni Chapter, NCET and the College of Business Alumni Association (COBAA). Chris graduated from the University of Nevada in 2015 with a bachelors in management and economics and also earned his MBA from Nevada in 2023. More about Chris: Past president of the College of Business Alumni Association (COBAA) 2022-23 Two-time honoree for University of Nevada Alumni Chapter of the Year (Nevada Sagebrush Alumni Chapter, 2017 & COBAA, 2021) 2021 NCET award for Professional Services Organization of the Year with TAC Northern Nevada Human Resources Association 2020 Best Places to Work-Northern Nevada, Second Place with TAC 2016-17 Reno Bighorns MVP from the Sacramento Kings The Nevada Sagebrush editor-in-chief 2013-15 Associated Collegiate Press 2015 Four-year Non-daily Newspaper Pacemaker honoree University of Nevada, Reno College of Business Dean's List honoree (5x) from 2011-2015 Nevada Press Association award for Best Sports Column – Community in 2015 Education
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